Answer: $3,575
Explanation:
Opening balance for Allowance for Noncollectable Accounts for 2022 is closing balance for 2021 = $1,300.
Cool wear wrote off $775 during the year which would come out of the allowance;
= 1,300 - 775
= $525
An allowance of $4,100 was determined for the year which means that the Bad debt expense is the difference between the determined allowance and the current balance because this is the amount that the account had to be increased by to cater for the bad debt expense.
= 4,100 - 525
= $3,575
Yes your answer is correct
Answer:
A) Form 990-N.
Explanation:
Form 990-N is used by not-for-profit organizations with annual gross receipts under $50,000, and it must be filed electronically.
Most small not-for-profit organizations can use the Form 990-N, except:
- organizations with gross receipts of over $50,000
- churches and their associated supporting organizations
- private foundations
- political organizations
- tuition programs
- government instrumentalities
- group legal service plans
- and other specific organizations
:0/0:0 even h i’d s a square tune quar an tine is bad
Answer:
$70,100
Explanation:
The computation of the equipment recorded on a balance sheet is shown below:
= Purchase of new equipment + transportation cost + sales tax paid + installation cost
= $58,500 + $2,700 + $4,700 + $4,200
= $70,100
We simply added the above four items so that the recorded value of an equipment could come